Splacer helps rent your home or office by the hour for special events
Expected pay: You set it
Commissions & fees: 15%
Where: New York, San Francisco, Los Angeles, Miami and Chicago
Requirements: Legal right to rent out your real estate
Splacer is set up almost identically to its competitor Peerspace. Both sites propose to rent your space by the hour to filmmakers, photographers and the hosts of special events, such as weddings and bridal showers. This is a very lucrative side hustle if you have the right home and insurance.
The major difference between Splacer and some of the other companies that offer this service is that Spacer operates in fewer cities and is much less accepting of host cancellations.
How it works:
If you have an apartment/home/studio/office/warehouse space that you think might serve as an appropriate venue, you can register on the site. Assuming your location is approved, Splacer will allow you to upload photos and choose an hourly rental rate.
You’ll provide Splacer with bank account information (so they can pay you) and they’ll market your space to the company’s clients.
If rented, you’ll get 85% of the rental rate. Splacer charges a 15% commission to the host and a 5% processing fee to the renter. The site collects the full amount of the booking upfront and puts the payment in escrow until the day after the event. You get paid within a week following the event by direct deposit.
Splacer has a $1 million liability policy that covers owners if someone is hurt on the property. But you should collect a deposit to protect against property damage. And it’s wise to talk to your own insurance agent about thefts and damage coverage.
Tough cancellation policy
However, Splacer imposes at least a $100 fee for any cancellation and may also charge a 5% processing fee, too. If you cancel more than one event in 6 months, you and your venue will be booted from the platform.
Why such a tough cancelation policy? Events that are booked at this site are not easily rescheduled. To be sure, there are emergencies that can’t be avoided. But, cancelling on someone’s wedding or 50th anniversary party really ought to be rare. Don’t accept bookings unless you’re sure you can follow through.
What their users say (from Facebook)
I’m a host and have found the whole process super easy and the Splacer team have been really responsive. It’s a cool tool that I’ve recommended to mates too.
Awesome team! I have been a host on Splacer for two years now and have had nothing but wonderful experiences with the 10+ events I have hosted. Their team is professional and have been incredibly helpful any time I have had questions or feedback.